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At its annual general meeting in November the Peninsula Saleyards Company decided to hold fortnightly stock sales throughout tbe year, in stead of as previously for three or four months at the end of each year, The sales held in tbe middle of the months of September, October, November and December have been well patronised during the past, two years, and the company thought the time had come when a fortnightly sale could be held i throughout the year. Tbe fortnightly sales were, therefore, arranged for tbe coming year. On Friday last, a depu tation, representing the Christchurcb auctioneering firms, waited on tbe directors of the Peninsula Saleyards Company, and put their views of the matter of fortnightly sales before them.

Mr R Latter, chairman of directors, received the deputation, which re presented Messrs H. Matson „ Co.,

N.Z. Farmers' Coop. Association, National Mortgage and Agency Company, and two Christchurcb buyers, Messrs J. Ferguson and Tavender. Mr Joe Lynskey, of the N.Z. Farmers' Co op. Association, acted aa spokesman. Mr Lynskey said, on behalf of the Christchurch firms, he wished to point out to the directors bow extremely difficult it was for the Christohuroh auctioneers to attend tbe mid monthly * sales in the autumn, when the lamb buying season was install swing in "'< North Canterbury. He then went on ■to .how that a fortnightly sale was *" I not necessary, and it only spoilt the .. I monthly sale. Many of their Penin- , sula clients refused to bring stock to tbe mid monthly sales, because tbey I could not get the competition of the _ buyers, who could not attend the mid* monthly Bales in full force. He held I that the annual number of stock ... , passing through the yards did not f x warrant a fortnightly sale, In Ash* ' burton they had held a monthly sale, <; which was a good sale, but when they l made it a fortnightly sale the experi- * ment was a failure. Mr James , Knight, also a buyer, asked bim to apologise for bis absence. Mr Lynekejr \ went on to say that tbe Christohuroh : auctioneers and buyers quite realised _~ the wisdom of holding mid-monthly sales .in August, September, Ootober and November, from tbe first flush of i grass to the end of the springer season, but outside tbis they did not think tbe 1 number of cattle yarded warranted a , fortnightly sale. He then quoted the following figures from last year, whioh he said were only approximate. He said the number of cattle yarded last I> ' year was 2487, and calculating that 85 per oent, of these were sold at as average price of £6 per head, the ,; total sales amounted to £12,000, and ~* the amount earned by auctions as commission at 2\ per cent. was £800, or an average per firm of £60 per annum, or £5 per sale. He said Mr Leicester Matson had asked bim to put those views before the company. He thought it was in tbe interests of the company to bold sales fortnightly in the spring, but further than tbat tbe Christchurch auctioneers did not think them necessary, He was sure there were many of their clients wbo sympathised with the Christchurch firms in this, and liked to see them at tbe sales. The firms had to make '< ; these sales pay, and it was extremely difficult to get more than bare ex- ; v ; penses 83 it was at present. £ Mr A. Cook, representing Messrs H, Matson & Co,, endorsed the previous, V' speaker's remarks. He said the _ ft? Duvauobelle sale was old and one of the largest and best in the ; province. The holding of fortnightly •*s* sales spoilt both monthly and mid« monthly sales. Last mid-monthly sale the yarding was only 60 head, and tbe attendance about forty people. He thought the majority of farmers and buyers were not in favour of the mid monthly sales. He hoped the • directors would see their way to have the motion re holding fortnightly «,. sales rescinded. Mr J, Ferguson, a buyer, endorsed the remarks of the previous speakers, and pointed out bow difficult it was to attend the mid-monthly sales. If ..:.>. they divided the monthly sales, they would not get the number of cattle or the buyers. Both from a buyer's and seller's point of view the fortnightly sale was a mistake, *- Mr Tavender, and the representative of the National Mortgage and Agenoy Company, also endorsed the previous speakers remarks, Mr R. Latter said, as chairman of directors and auctioneer, he recog nised that the auctioneers had a lot of

expense to bear in attending the sales

_«_I-IHMII-I l_H-lllll_l_lllll— in ■»"■ at DnvauobeUe. He pointed out that it was 11 the advantage of tha company to hold fortnightly sales, as their expenses were praotically nothing, and tbe mid monthly saies brought in more revenue. Tbey were only abe to pay a 5 per cent, dividend at the present time to their shareholder?, and from a shareholder's point of View the raid-monthly pales were a source of revenue. The directors could not give tbe deputation a de- ,,, cided answer at once, but be would see that the matter received due consideration, and that the deputation *, got justice; The directors had been pleased to reosive the views of tbe deputation, Mr Lynskey thanked the chairman anijfdirectors for their patient bearing, ana tbe deputation withdrew', Mr E, E. Lelievre then moved the seoretary be authorised to call an extraordinary general meeting of the shareholders of the company on Friday, January 2, and to ask the shareholders to resoind the motion passed > at the annual meeting re holding mid monthly sales throughout the year. Seconded by Mr T. W. Wilkins, and carried.

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Bibliographic details

DUVAUCHELLE STOCK SALES., Akaroa Mail and Banks Peninsula Advertiser, Volume LXXI, Issue 4356, 9 December 1913

Word Count

DUVAUCHELLE STOCK SALES. Akaroa Mail and Banks Peninsula Advertiser, Volume LXXI, Issue 4356, 9 December 1913

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